This audio is auto-generated. Please let us know if you have feedback.
Dive Brief:
- Function of Beauty, the customizable hair, skin and body care company, has hired Marianna Trofimova to become its new chief marketing officer, the company announced on Tuesday.
- Trofimova will oversee the company’s brand, build out its product assortment, develop its go-to-market strategies and assist in its international expansion. She will report to CEO Alexandra Papazian.
- Before joining Function of Beauty, Trofimova spent 20 years at L'Oréal, most recently at Biolage and Garnier.
Dive Insight:
Trofimova is stepping into her new role as Function of Beauty continues adding industry veterans to its executive team. The company recently hired Matthew Eberhart as its new chief digital officer and Boyoung Lee as its new chief creative officer, both of whom have “years of experience in retail, beauty and fashion,” per the press release. Eberhart manages the company’s direct-to-consumer business and Lee develops the creative vision for the brand.
With Trofimova’s hiring, Function of Beauty has poached another long-time veteran of L'Oréal. In September last year, Papazian – who also has 20 years of experience at L'Oréal – became Function of Beauty’s CEO while Zahir Dossa, the company’s co-founder, transitioned from chief executive to executive chairman of the board. At the beauty conglomerate, Papazian was responsible for “building and growing top-tier global beauty brands,” including Giorgio Armani, Yves Saint Laurent and Ralph Lauren.
“Marianna is a veteran consumer-centric marketer with deep expertise in the beauty industry, building some of the most reputable and recognizable brands,” Papazian said in a statement. “I’m thrilled for her to come on board as she will be central in executing the many exciting opportunities we have on the horizon as we become the global leader and omnichannel pioneer in customization.”
Trofimova’s appointment comes as the share of women chief marketing officers has surpassed men for the first time, according to a recent report by Spencer Stuart. However, racial and ethnic diversity among CMOs remains scant. Only 18% of incoming CMOs in 2021 came from underrepresented racial and ethnic groups, though this is an increase from 11% in 2020, the report found.
PitchBook data shared with Retail Dive last fall showed that investment in the personalized beauty industry grew from under $300 million in 2010 to $1.04 billion by September 2021. As the customizable beauty space grows, brands have expanded their offerings into other areas of beauty. Last August, Function of Beauty – which started in hair care – acquired Atolla, a personalized skin care company, to further its offering in the space. The move enabled the DTC brand to use Atolla’s product recommendation tool and skin care test to enhance its own services.
via https://www.aiupnow.com
Tatiana Walk-Morris, Khareem Sudlow
